When a person gets a court judgement to pay some debt ($$$) to a financial institute (in this case collection agency), and doesn't have any asset (no house, nothing valuable) to be seized and doesn't have a wage to be garnished, what does the other party do? Just sit and wait? Or harrass everyday? Or what? This is in NC and the original loan was for a vehicle loan.

They sit and wait. But they can wait almost indefinitely

Yes, they have all the time in the world, to wait till you get a job, have money in the bank and so on

Yes and they will wait and wait until you think they have "forgot"and then out of the blue your wages will be garnished and your bank account levied.